Lockheed Lands $7.8B In Pentagon Contracts For F-35 Jets

Law360, Los Angeles (September 27, 2013, 9:22 PM EDT) -- Lockheed Martin Corp. has finalized two U.S. Department of Defense contracts worth $7.8 billion to build 71 more F-35 fighter jets for the federal government, it announced Friday, saying the jets — a target for criticism on Capitol Hill — are becoming more affordable to produce.

The aerospace company and the Pentagon finalized a $4.4 billion contract to produce 36 Lightning II aircraft and a $3.4 billion deal to build an additional 35 Lightning II stealth fighters. According to the DOD, the average aircraft unit will...